Invest from as little as £50 each month or with a single lump sum of £500.

Freedom to transfer – your clients can transfer their existing Cash ISA or Stocks and Shares ISA to the Prudential ISA.

No fixed term – so your clients can invest for as long as they want whilst the ISA remains open.

Your client’s investment could go down as well as up, they may not get back what they paid in.

About the Prudential ISA

The Prudential ISA is a Stocks and Shares ISA provided by Link Financial Investments Limited, who is the ISA Plan Manager. Link Financial Investments Limited is responsible for all regulatory and legal aspects of the ISA and provision of all customer services.

Your clients can start their investment from as little as £50 each month or with a single lump sum of £500. The minimum top-up payment is £250.

There is no minimum investment term - your clients can stop, restart, raise or lower payments whenever they like.

The Prudential ISA has two elements:

Investment in a life insurance policy which allows access to the PruFund Funds (the Life Insurance Policy) for which Prudential is responsible

Investment in Open-Ended Investment Company (OEIC) funds for which Link Fund Solutions Limited are responsible

Your clients can choose to invest in one or both of these elements of the Prudential ISA.

Contributions

Regular savings can be increased by any amount, subject to a minimum of an additional £5 per month.

ISA investment limits

The overall ISA subscription limit is £20,000 for the current tax year. This can be split in any proportion between Cash and Stocks and Shares ISAs. Transfers in from other ISA plans don't count towards your clients' annual limit.

Please note, Prudential does not offer a Cash ISA.

Withdrawals

Clients can:

take regular withdrawals monthly, quarterly, six-monthly or annually (subject to a minimum withdrawal of £50)

take partial withdrawals as a specific amount (subject to a minimum withdrawal of £250)

opt to fully surrender the ISA at any time. The ISA ends once all proceeds have been withdrawn

The maximum aggregate value of withdrawals in a 12 month period must not be more than 7.5% of the full value of your client's eligible holdings. The Regular Withdrawals guide has more information.

If your clients are taking a lump sum or regular withdrawals from their ISA, the minimum value limit is £500 for each fund.

Fund switching

Your clients can switch funds whenever they need to, without charge, giving them control over their investments.

Charges and costs

The main charges will be:

Annual Management Charges (AMC)

Fund switching charges

Adviser Charges

Annual Management Charge

Annual Management Charges (AMC) applies for each fund.

We will take a charge each year for the management and administration of funds held within the Prudential ISA.

PruFund Funds: for these funds, the AMC is taken by the monthly cancellation of units from each investment. Note: if a client has only invested in a PruFund Fund for part of a month, we still take a full month's charge.

Risk Managed Active/Passive Funds: the Ongoing Charge figure is based on the total of all charge payments made over a year, and includes charges such as the fund’s Annual Management Charge, custodian charge and administration fee.

Further costs incurred by the funds: In addition to our charges, there may be further costs incurred, which can vary over time. Where these are applicable, they are paid for by the relevant fund and will impact on its overall performance.

Further information on the PruFund Fund charges and costs can be found in Fund Guide (PDF).

Fund switching charges

PruFund range of funds

Your clients can switch between funds at any time. Switches out of any PruFund Fund will be subject to a 28 day delay.

There is currently no charge for switching. The minimum value of your clients PruFund investment they can switch is £500. If they are not switching the full value of their investment from a particular PruFund Fund, they must leave at least £500 in each fund.

Risk Managed Active/Passive funds

There is currently no charge for switching. Your clients can switch all or some of their shares in one fund for shares in another fund in the company at any time. This is subject to any restrictions on the eligibility of investors for a particular share class.

Adviser Charges

There are two main types of Adviser Charges:

Set-up Adviser Charge: agreed between you and your client as a % of initial investment; or a fixed monetary amount.

Ongoing Adviser Charge: agreed between you and your client as a % of total plan value or a specified monetary amount each year.

Additional information

Transferring an existing ISA

Your clients can transfer any previous tax year’s Cash ISA or Stocks and Shares ISAs from other providers to the Prudential ISA without affecting the current year’s subscription limits (please check the HMRC website for current limits). They can invest the transfer amount into the range of funds available.

When considering a transfer, your clients should speak to their existing ISA provider about potential charges or penalties.